cap ramifications of this? (1 Viewer)

[Bri]

As expected, the team did announce the reworking of A.J. Feeley's contract, trimming it to a two-year deal worth $2 million. Feeley, 28, was acquired via trade last season and did not appear in any games. He was due to make $13.65 million over the next three seasons.

http://www.signonsandiego.com/sports/charg...16nflnotes.html

My initial reaction is "they can't do that without cutting him" but obviously they can so what happens, cap wise? Is the 13.65 just poof gone away or is part of that still against the cap or...????

 

[jeff_eaglz]

As expected, the team did announce the reworking of A.J. Feeley's contract, trimming it to a two-year deal worth $2 million. Feeley, 28, was acquired via trade last season and did not appear in any games. He was due to make $13.65 million over the next three seasons.

http://www.signonsandiego.com/sports/charg...16nflnotes.html

My initial reaction is "they can't do that without cutting him" but obviously they can so what happens, cap wise? Is the 13.65 just poof gone away or is part of that still against the cap or...????

My vote is "poof"....If you went the other way, $2M to $13.65, the difference would go against the cap?

So it should work in reverse (unless some of the $13.65 was guaranteed, then it may still count).

I'm not a capologist, but I play one on TV....

 

[diesel7982]

As expected, the team did announce the reworking of A.J. Feeley's contract, trimming it to a two-year deal worth $2 million. Feeley, 28, was acquired via trade last season and did not appear in any games. He was due to make $13.65 million over the next three seasons.

http://www.signonsandiego.com/sports/charg...16nflnotes.html

My initial reaction is "they can't do that without cutting him" but obviously they can so what happens, cap wise? Is the 13.65 just poof gone away or is part of that still against the cap or...????

If he agrees to cut his pay, theres no problem. His cap # adjusts to whatever Feeley agreed to in terms of guaranteed money and salary.

 

[David Yudkin]

IIRC, whatever signing bonus he was paid still gets prorated against the cap.

 

[Bri]

Thanks David and Eaglez.

I found this to be a very odd, very accomodating player reply to a renegotiation at not the best time since the CBA being renegotiated and all. I saw his reasonning in that article but I don't know it just seemed odd how understanding he was about dropping from 13.65 to 2. Do you think so?

It's sorta funny that he accepts this paycut to stay with a team he thinks is going somewhere since while he was gone Miami became that type of team too. I wonder if they'd have wanted to keep him at a mil a year.

Someone's patting the Chargers GM on the back for this one, that's for sure

 

[ravnzfan]

As expected, the team did announce the reworking of A.J. Feeley's contract, trimming it to a two-year deal worth $2 million. Feeley, 28, was acquired via trade last season and did not appear in any games. He was due to make $13.65 million over the next three seasons.

http://www.signonsandiego.com/sports/charg...16nflnotes.html

My initial reaction is "they can't do that without cutting him" but obviously they can so what happens, cap wise? Is the 13.65 just poof gone away or is part of that still against the cap or...????

per USAToday "salary base info" for NFL-----latest info is '04, which shows a $455K salary, plus $3M signing bonus...he collected $3.455M...cap figure was $1.055Msubtract salary ($455K) from cap figure of $1.055 leaves $600K---the amount of the prorated signing bonus, telling us the deal was 5 yrs (3M/600)

another 600K was used up this year, leaving $1.8 of original signing bonus that needs proration in the new deal...

the $13.65M "goes poof", because this was a starters contract and obviously no team would aggree to keep a 3rd string clip board carryin' QB on the roster for that amount...

...had Feely NOT aggreed to terms (the stance Penny is taking), SD would have cut him for sure----a stance the Jets will take w/Penny, IMO

what SD WOULD have been responsible for capwise was the remaing $1.8M, all of which would have counted in '06 if the cut was prior to 6/1...had the cut come AFTER 6/1, then $600K(pro rated yearly figure) counts this yr and the remaining $1.2M counts in '07

what WILL count, now that the deal is reworked is $1.8M/2=$900K signing bonus + salary---presumably $1M/yr

so cap figure on the new contract is $1.9M/yr for 2 years, while cash paid to AJ is $1M per

 

[AB in DC]

the $13.65M "goes poof", because this was a starters contract and obviously no team would aggree to keep a 3rd string clip board carryin' QB on the roster for that amount...

...had Feely NOT aggreed to terms (the stance Penny is taking), SD would have cut him for sure----a stance the Jets will take w/Penny, I'm sure

NFL contracts are not guaranteed. The $13.65m is phony money -- Feeley would never have seen that money. He never had the money, so he doesn't lose it by renegotiating.Bri, this happens all the time...nothing noteworthy here at all.